Starbucks Announces Much Anticipated Entry into the Dynamic Vietnam Market

Starbucks Announces Much Anticipated Entry into the Dynamic Vietnam Market
Long-term Relationship with Maxim’s expanded to Include Operations in Vietnam
Continuing Aggressive Expansion across Asia, Starbucks grows beyond 3,300
stores across 12 Countries with the Opening of the Vietnam Market
First store scheduled to open in Ho Chi Minh City, Vietnam, early February
2013
Business Wire
HO CHI MINH CITY, Vietnam -- January 3, 2013
Starbucks Coffee Company(Nasdaq:SBUX) today announced the expansion of its
long-term relationship with Hong Kong Maxim’s Group to now operate Starbucks®
stores in Vietnam. Scheduled to open the first Starbucks® store in Ho Chi Minh
City in early February 2013, Starbucks reiterated today that Asia continues to
be a significant growth driver for the Company and is proud to be partnering
with Hong Kong Maxim’s Group to enter Vietnam this year.
Starbucks has granted Hong Kong Maxim’s Group subsidiary, Coffee Concepts
(Vietnam) Limited, the license agreement for the Vietnam market and both teams
are incredibly pleased to expand the relationship beyond Hong Kong and Macau.
Coffee Concepts (Vietnam) Limited will be Starbucks licensee for operating
Starbucks stores in this dynamic market, delivering the legendary Starbucks
Experience to customers, and maximizing the growth potential of the Starbucks
brand in Vietnam.
“Vietnam is one of the most dynamic and exciting markets in the world and we
are proud to add Vietnam as the 12th market across the China and Asia Pacific
region,” said John Culver, president, Starbucks China and Asia Pacific.
“Starbucks is deeply respectful of Vietnam’s long and distinctive local coffee
culture. We know coffee is a national pride for many Vietnamese and as such,
we look forward to contributing and growing Vietnam’s already vibrant coffee
industry. As we continue to source more Vietnamese high-quality, arabica
coffee we want to leverage our scale to bring the best of Vietnam’s coffee
traditions to the rest of the world.”
Starbucks has built the brand by delivering a consistent, authentic in-store
experience to customers around the globe. The Starbucks Experience is built on
sourcing high-quality arabica coffee, delivering high-quality product
innovation and surprising and delighting customers with an uplifting
experience through engaged, passionate and knowledgeable baristas.
“Our partnership with Starbucks has more than 10 years of history and we are
proud to deliver the Starbucks Experience to our customers in Hong Kong and
Macau today,” said Michael Wu, Chairman and Managing Director, Hong Kong
Maxim’s Group. “We are looking forward to leveraging our expertise and deep
understanding of the Starbucks brand to welcome Vietnamese customers to our
stores, earning their trust and respect with the unparalleled Starbucks
Experience, known by customers around the globe.”
With 41-years of coffee heritage and expertise, Starbucks is the coffee leader
globally and has built the brand on its passion and pursuit of the highest
quality coffee. Starbucks already purchases a notable amount of some of the
highest-quality arabica coffee from Vietnam and is committed to sourcing more
arabica coffee from the Vietnam region over the long-term. Starbucks will
continue to promote responsible business practices and production standards
within its existing and prospective supply chains and will work closely with
local coffee farming communities to elevate the quality of arabica coffee and
introduce customers globally to the rich Vietnamese coffee heritage.
“Starbucks provides much more than just the best cup of coffee — we will offer
a community gathering place where people come together, connect with family
and friends and celebrate the local Vietnamese coffee culture and heritage,”
said Jinlong Wang, president, Starbucks Asia Pacific. “We are looking forward
to serving our customers in Vietnam in an authentic and locally relevant way.
Specifically, we hope customers will join us in the stores to personalize
their favorite Starbucks® beverage and experience the unique third place
between work and home that Starbucks is known for globally.”
Starbucks today operates more than 3,300 stores across 11 countries in the
China and Asia Pacific region. Through its licensed partner, Coffee Concepts
(Hong Kong) Limited, a subsidiary of Hong Kong Maxim’s Group, Starbucks
operates more than 130 stores in Hong Kong and Macau.
About Starbucks
Since 1971, Starbucks Coffee Company has been committed to ethically sourcing
and roasting the highest-quality arabica coffee in the world. Today, with
stores around the globe, the company is the premier roaster and retailer of
specialty coffee in the world. Through our unwavering commitment to excellence
and our guiding principles, we bring the unique Starbucks Experience to life
for every customer through every cup. To share in the experience, please visit
us in our stores or online at www.starbucks.com.
About Hong Kong Maxim’s Group
Founded in 1956, Hong Kong Maxim’s Groupnow operatesover 760 outletsin Hong
Kong and China. The Group offers a diversified service comprising Chinese,
Asian and European restaurants, fast food outlets, cake shops, coffee
shops,Japanesechain restaurantsand institutional catering, while providing
a range of festive products, spanning from mooncakes, Chinese New Year
puddings, rice dumplings to Chinese preserved meat.Hong Kong Maxim's
Groupalso operates air catering services at 11 airports in China, including
Beijing and Shanghai, through joint ventures.
Contact:
Starbucks Public Affairs, China and Asia Pacific
Christina McPherson, +1 206-318-7100
press@starbucks.com